Kota Kinabalu: Sabah MCA and Parti Warisan urged the Madani government to reconsider the proposed reintroduction of inheritance tax in the 2025 Budget to increase federal government revenue.
Sabah MCA’s Dr Pamela Yong, who is Institute of Strategic Analysis and Policy Research (Insap) chairperson, said:
“Many small and medium-sized enterprises which are family-run will face unnecessary financial burden, which can stifle entrepreneurship and discourage wealth creation of the middle- class.”
She was commenting on a report which suggested that the imminent federal budget would impose five new taxes – the inheritance tax, an unhealthy food tax, carbon pricing tax, high-value goods tax and artificial intelligence (AI) tax. Support Independant Journalism Subscribe to Daily Express Malaysia 1-Year: Premium PlanRM180.00 / yearSubscribe Already a subscriber? Unlock this Article, Sign In Here